HomeMy WebLinkAboutEXECUTIVE SESSION - 12/10/1996 - LAND ACQUISITION/RELEASED RES NO 24-99 EXECUTIVE SESSION
Date December 10. 1996
Time 6700p.m.
TOPIC. LITIGATION PERSONNEL_ LAND ACQUISITION—X
VILLAGE BOARD VILLAGE BOARD
MEMBERS PRESENT MEMBERS ABSENT STAFF PRESENT
D. GALLITANO G. PARRIN
President Village Manager
J. PETRI R. RUMMEL
Village Trustee Asst. Village Mgr.
N. CZARNIK S. NIEHAUS
Village Trustee Administrative Asst.
P. RETTBERG G. KNICKERBOCKER
Village Trustee Village Attorney
C. JOHNSON M. RIORDAN
Village Trustee Special Counsel
S. LISSNER
Village Trustee
P. FEICHTER
Village Trustee
Pursuant to a duly made and approved motion and a majority vote at a regularly
scheduled meeting of the Village President and Board of Trustees on December 10. 1996
this Executive Session was called to consider a Land Acquisition matter.
Number of pages attached: 1
Date(s) of review for release: January 1997 �/
Date of approval for release: J" � 9 % �La - 7 '%�
12110196
6:00 p.m.
SALES PRICE OF REAL ESTATE
The Village Manager and Village Attorney brought the Village Board up to
date on activities regarding the Grove Mall redevelopment. The Village Manager
stated that he and the Village Attorney had met with Willis Johnson regarding the
disposition of the Grove Cinema. Johnson has expressed interest in staying open
until demolition occurs. The Village Manager stated that this would be possible
and Johnson would be responsible for common area maintenance and snow
plowing. In addition, the Village Manager recommended that the Village allow the
future developer of the property to handle all negotiations with Johnson regarding
the possibility of him staying on the redeveloped property.
The Village Attorney and Special Counsel brought the Village Board up to
date on discussions with Taxman and Hamilton Partners regarding their proposals
to redevelop the property and the monetary value of their purchase offers. Upon
further discussion, the consensus of the Village Board was as follows:
• to authorize the Village Manger and Village Attorney to negotiate a lease
which will allow the Grove Cinema to stay open until such time that it is
demolished or closed for renovations;
• to enter into negotiations with Hamilton Partners for the sale and
redevelopment of the Grove Mall property for approximately $4/sq. ft.
depending upon the theater property and other potential tenants;
• to have a press release prepared announcing that the Village has
commenced development negotiations with Hamilton Partners;
• to have Special Counsel begin preparation of a draft redevelopment
agreement; and
• to have the Plan Commission and Zoning Board of Appeals informed of the
December 19, 1996 public hearing regarding the consideration of the
Grove Mall property as a tax increment financing district.
The meeting adjourned at 7:00 p.m.
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